Need Help Figuring Yield Please

[Lori Martinez]

Bigger Pockets Members,

I am having trouble trying to understand how yield works. I would most appreciative of your help. I have several courses including Calculator Power (but none give equation examples). I have a financial calculator and Tvalue software as well. (I need very specific examples shown in a course or website that would show me all about yield and how to figure yield).

Is there a place I can go that will show me how and what yield is, but more importantly, how to figure it on a calculator? (What formula is used?)

I am going through an old John Behle Paper Game course, and unfortunately he did not show how to figure the yield in this example. I have a pretty decent grasp on how he came about all his other numbers, but I am still learning.

I have a specific equation in mind that I need help with.

$10,000 Note
$ 6,000 Offer (discounted 40%)
120 Payments
10% interest
$132.15 Monthly Payment

Yield earned is 24%

(Question: I need help to show me how to calculate how the 24% yield)

Any assistance would be appreciated.

Regards,

Lori